NEW YORK, June 10, 2019 /PRNewswire/ -- Pareteum
Corporation (Nasdaq: TEUM), ("Pareteum" or the "Company"), a
rapidly growing Cloud Communications Platform company, is set to
join the Russell 3000® Index at the
conclusion of the Russell U.S. Indexes annual reconstitution,
effective after the U.S. market opens on July 1, according to a preliminary list of
additions posted June 7.
"Inclusion in the Russell 3000 Index is a reflection of the
strong customer growth, execution and financial performance that
has characterized Pareteum during the past year," said Hal Turner, Pareteum's Chairman and Chief
Executive Officer. "This uplift from last year's inclusion in the
Russell Microcap Index to the Russell 3000 will further expand
awareness of Pareteum among institutional investors and for all of
our stakeholders. We intend to continue to deliver strong growth
and are focused on capitalizing on the very large global
opportunities before us which will result in building significant
shareholder value over time."
Annual Russell indexes reconstitution captures the 4,000 largest
US stocks as of May 10, ranking them
by total market capitalization. Membership in the US all-cap
Russell 3000® Index, which remains in place
for one year, means automatic inclusion in the large-cap Russell
1000® Index or small-cap Russell
2000® Index as well as the appropriate
growth and value style indexes. FTSE Russell determines membership
for its Russell indexes primarily by objective,
market-capitalization rankings and style attributes.
Russell indexes are widely used by investment managers and
institutional investors for index funds and as benchmarks for
active investment strategies. Approximately $9 trillion in assets are benchmarked against
Russell's US indexes. Russell indexes are part of FTSE Russell, a
leading global index provider.
For more information on the Russell
3000® Index and the Russell indexes
reconstitution, go to the "Russell Reconstitution" section on the
FTSE Russell website.
About FTSE Russell
FTSE Russell is a leading global
index provider creating and managing a wide range of indexes, data
and analytic solutions to meet client needs across asset classes,
style and strategies. Covering 98% of the investable market, FTSE
Russell indexes offer a true picture of global markets, combined
with the specialist knowledge gained from developing local
benchmarks around the world.
FTSE Russell index expertise and products are used extensively
by institutional and retail investors globally. Approximately
$16.2 trillion is currently
benchmarked to FTSE Russell indexes. For over 30 years, leading
asset owners, asset managers, ETF providers and investment banks
have chosen FTSE Russell indexes to benchmark their investment
performance and create investment funds, ETFs, structured products
and index-based derivatives. FTSE Russell indexes also provide
clients with tools for asset allocation, investment strategy
analysis and risk management.
A core set of universal principles guides FTSE Russell index
design and management: a transparent rules-based methodology is
informed by independent committees of leading market participants.
FTSE Russell is focused on index innovation and customer
partnership applying the highest industry standards and embracing
the IOSCO Principles. FTSE Russell is wholly owned by London Stock
Exchange Group.
For more information, visit www.ftserussell.com.
About Pareteum:
Millions of people and devices are
connected around the world using Pareteum's Global Cloud
Communications Platform, enhancing their mobile experience.
Pareteum unleashes the power of applications and mobile services,
bringing secure, ubiquitous, scalable, and seamlessly available
voice, video, SMS/text messaging, and data, media and content
enablement to our customers, making worldwide communications
services easily and economically accessible to everyone. By
harnessing the value of our cloud communications platform, Pareteum
serves enterprises, communications service providers, early stage
innovators, developers, IoT, and telecommunications infrastructure
providers. Pareteum envisions a new mobile communications
experience imagining what will be, and delivering now. Pareteum
currently has offices in North
America, South America,
Spain, Bahrain, Singapore, Indonesia, Germany, Belgium, United
Kingdom, Russia, and
the Netherlands. For more
information please visit: www.pareteum.com.
Forward Looking Statements:
Certain statements
contained herein constitute "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995.
Such statements may include, without limitation, statements with
respect to Pareteum's plans and objectives, projections,
expectations and intentions. These forward-looking statements are
based on current expectations, estimates and projections about
Pareteum's industry, management's beliefs and certain assumptions
made by management. Readers are cautioned that any such
forward-looking statements are not guarantees of future performance
and are subject to certain risks, uncertainties and assumptions
that are difficult to predict. Because such statements involve
risks and uncertainties, the actual results and performance of
Pareteum may differ materially from the results expressed or
implied by such forward-looking statements. Given these
uncertainties, readers are cautioned not to place undue reliance on
such forward-looking statements. Unless otherwise required by law,
Pareteum also disclaims any obligation to update its view of any
such risks or uncertainties or to announce publicly the result of
any revisions to the forward-looking statements made here.
Additional information concerning certain risks and uncertainties
that could cause actual results to differ materially from those
projected or suggested in Pareteum's filings with the Securities
and Exchange Commission, copies of which are available from the SEC
or may be obtained upon request from Pareteum Corporation.
Media Inquiries
Press@pareteum.com
Pareteum Investor Relations Contacts:
Michael Bloom
Investor Relations
+1 650 232-4341
michael.bloom@pareteum.com
Allise Furlani
The Blueshirt Group
Blueshirt.group@pareteum.com
Carrie Howes
Rayleigh Capital
European- Global IR
+1 416 837 0075
carrie@rayleighcapital.com
View original content to download
multimedia:http://www.prnewswire.com/news-releases/pareteum-set-to-join-russell-3000-index-300864298.html
SOURCE Pareteum Corporation